4/5Calidi Biotherapeutics, Inc. (CLDI): Going-concern doubt

Market data

Price before filing: $4.5 (2026-03-26 close, split/dividend-adjusted)
Market cap at flag: $2.8M (2026-03-27) · Latest: $1.2M (2026-10-16)

What happened next

Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.

Insider trading around this filing

90 days before the flag: no open-market insider sales or purchases reported.
30 days after: none reported.

Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-27 to 2026-04-26. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.

Verified excerpt

"Our recurring losses from operations since inception and requirement for additional funding to finance our operations raise substantial doubt about our ability to continue as a going concern."

Quoted from the filing. Source

What this means

The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.

Source: management disclosure in Form 10-K (period 2025-12-31)